Crafting Your Will

Ensure your wishes are honored and your legacy is protected.

Why a Will is Essential?

Having a will is crucial to ensure your assets are distributed according to your wishes. Without a will, state laws will determine how your estate is divided, which may not align with your desires. A will provides peace of mind for you and your loved ones.

Our Process

We follow a thorough process to ensure your will is comprehensive and legally sound:

  • Initial consultation to understand your needs and wishes.

  • Gathering necessary information about your assets and beneficiaries.

  • Drafting the will based on your specific needs and instructions.

  • Reviewing and making any necessary revisions.

  • Finalizing and signing the will to make it legally binding.

Types of Wills and Related Documents

A will is a written document instructing the Probate Courts on the preferred distribution of your property after your death. It also provides for persons appointed as a personal representative to manage your estate, as well as guardian nominations for any minor children or incapacitated individuals. If you die without a will, your property will be distributed according to Michigan's intestate succession laws, which determine how your property will be distributed among your heirs.

Here's a summary of the different types of wills you can consider:

Formal Will

A formal will is the most commonly used type of Will and must meet specific legal requirements under Michigan law. It needs to be in writing and signed by you (the testator) or by someone else at your direction and in your presence. Additionally, it must be witnessed by at least two individuals who sign the will within a reasonable time after witnessing you sign or acknowledge the will.

Simple (Statutory) Will

A simple, or statutory, will is a basic document that outlines your preference for asset distribution after your death. It can be suitable for individuals with straightforward estates and typically includes instructions for asset distribution, appointment of an executor, and guardianship for minor children if applicable. This type of will is standardized and can often be a fill-in-the-blank form provided by the state.

Holographic Will

A holographic will is a handwritten document that does not require witnesses to be valid. To qualify as a holographic will in Michigan, it must be dated, and the material provisions, which are the key instructions and decisions about your estate, must be in your handwriting, along with your signature.

It's important to know potential pitfalls when using a Holographic Will. Firstly, the lack of witnesses could lead to challenges regarding the document's authenticity. Additionally, if the handwriting is unclear or if there are doubts about the testator's mental capacity, the Holographic Will may be susceptible to contestation. It's important to consider consulting with an attorney to ensure that your Holographic Will meets all legal requirements and is less susceptible to potential challenges.

Joint Wills

A joint will is a single will for two people, usually spouses, that outlines shared wishes for asset distribution. Generally, it states that the surviving spouse receives the assets when one dies and then transfers everything to the children upon the surviving spouse's death. However, joint wills can create substantial problems for surviving spouses and family members, as state laws may prohibit amendments to the will after one spouse passes away. Decisions that made sense while both spouses were alive may become disadvantageous if circumstances change. Potential issues include:

  • Inability to rent or sell jointly owned property.

  • Inability to change the inheritance of a beneficiary.

  • Difficulty adding a new spouse or child to the will.

  • Restrictions on providing early inheritance or financial assistance to family members.

  • Inability to amend the will to manage funds for irresponsible heirs.

  • Restrictions on using assets for large expenses like medical care.

  • Difficulty controlling the distribution of assets to estranged relatives.

Given these challenges, Joint Wills are rarely used today. It may be best to revoke a joint will and create a more flexible estate plan that accounts for present and future needs.

While creating a do-it-yourself will using a holographic or statutory will may be tempting, the potential pitfalls and legal complexities often outweigh the benefits. Errors in drafting or interpreting such documents can lead to costly probate proceedings and may result in your true intentions not being carried out. Therefore, it is highly recommended to seek the assistance of an attorney when drafting your will to ensure it meets all legal requirements and accurately reflects your wishes.

Other Vocab

Testamentary Trust (Will Clause)

A testamentary trust is established through provisions in your will that create a trust upon your death. This type of trust can be useful if you want to manage how your assets are distributed over time, especially if you have minor children or beneficiaries who may need guidance in handling their inheritance. By incorporating a testamentary trust into your will, you can ensure that your assets are managed and distributed according to your wishes, while also providing for the financial well-being of your loved ones.

It's important to note that a testamentary trust must still go through the probate process, unlike trusts created while the individual is still alive (intervivos trusts). This means that the terms of the testamentary trust will become public record and the court will oversee the administration of the trust, which can result in additional time and expenses.

Self-Proved Will

A self-proved will includes an affidavit signed by you and the witnesses before a notary public, making it easier to validate during probate. This affidavit can be completed simultaneously with the execution of the will or added later. A self-proved will helps avoid witnesses needing to testify about the will's validity during probate.

Separate Writing for Tangible Personal Property

Your will can refer to a separate written statement or list that disposes of specific items of tangible personal property. This document must be signed by you and describe the items and their recipients with reasonable certainty. It can be created before or after the will, altered as needed, and does not need to be significant apart from its effect on your will.

Living Will

A living will, also known as an advance directive, is a legal document that outlines a person's healthcare preferences if they cannot communicate their wishes. Unlike a traditional will, which is concerned with the distribution of assets after death, a living will specifically addresses medical treatment and end-of-life care.

A living will clearly documents one's preferences for medical interventions, such as life support or resuscitation, helping ensure that one's healthcare wishes are respected. This document can guide family members, healthcare professionals, and legal representatives during challenging and emotionally distressing times.

Having a living will in place can offer peace of mind and help prevent potential conflicts among family members regarding what course of action to take in difficult medical situations. It allows individuals to maintain autonomy and have a say in their medical care, even if they cannot communicate their preferences directly. Creating a living will is a crucial component of comprehensive advance care planning and can help alleviate the burden of decision-making for loved ones.

Common Mistakes to Avoid

Creating a will can be complex, and there are common mistakes to avoid:

  • Not updating your will regularly to reflect changes in your life.

  • Failing to name a guardian for minor children.

  • Not considering tax implications for your beneficiaries.

  • Overlooking digital assets and how they will be managed.

JM Thomas Law helps you avoid these pitfalls to create a robust and effective will.

FAQs

  • A will ensures that your assets are distributed according to your wishes and can help prevent legal disputes among your heirs.

  • It’s recommended to review and update your will every few years or whenever there is a significant change in your life, such as a marriage, divorce, birth of a child, or major purchase.

  • While it’s possible to write your own will, it’s advisable to seek legal assistance to ensure it complies with state laws and covers all necessary aspects.

Ready to Secure Your Future?

Take the first step towards peace of mind by scheduling a free consultation with our expert team.

info@jmthomaslawmi.com

‪(248) 971-0116‬